OvalX

Overview of OvalX

OvalX, a prominent virtual currency exchange, was founded in 2018 and is based in the United Kingdom. Regulated by the Financial Conduct Authority (FCA), OvalX offers a range of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). The exchange provides a maximum leverage of 1:100, allowing users to amplify their trading positions.

The exchange prioritizes the education and knowledge of its users, offering a variety of educational resources such as video tutorials, webinars, and online courses. This allows traders to enhance their understanding of the virtual currency market and improve their trading strategies.

Furthermore, OvalX ensures that its users have access to reliable customer support at all times. Their customer support channels include 24/5 live chat, email support, and phone support, enabling users to get assistance whenever they need it.

What is OvalX？

OvalX is a virtual currency exchange that caters to a diverse range of traders. It operates as a centralized exchange, meaning that trades are facilitated through its platform rather than through peer-to-peer transactions. This implies that OvalX acts as an intermediary, matching buyers and sellers of cryptocurrencies.

One notable feature of OvalX is its strong regulatory framework. As a regulated exchange, it is overseen by the Financial Conduct Authority (FCA), which helps to ensure a level of security and transparency for users. This regulatory oversight ensures that OvalX operates in compliance with specified guidelines and safeguards the interests of its users.

Pros and Cons

Security

OvalX employs several security measures to protect against potential attacks and fraudulent activities. The exchange regularly monitors its systems and implements advanced security technologies to identify and prevent any suspicious activities. This proactive approach helps to maintain a secure trading environment for users.

However, it is essential for users to play an active role in securing their accounts and practicing good security habits. This includes utilizing strong and unique passwords, enabling two-factor authentication (2FA), and being cautious of phishing attempts or suspicious links.

Trading Market

OvalX offers a wide range of trading products, including cryptocurrencies, forex, shares, indices, commodities, and bonds.

Cryptocurrencies

OvalX offers a wide range of cryptocurrencies to trade, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dogecoin, and many more.

Other tradable products

In addition to cryptocurrencies, OvalX also offers the following tradable products:

Forex: OvalX offers over 100 currency pairs to trade, including major, minor, and exotic pairs.

Shares: OvalX offers over 15,000 shares to trade from exchanges around the world.

Indices: OvalX offers over 50 indices to trade, including major global indices such as the S&P 500, FTSE 100, and DAX 30.

Commodities: OvalX offers over 20 commodities to trade, including gold, silver, oil, and wheat.

Bonds: OvalX offers a range of bonds to trade, including government bonds, corporate bonds, and emerging market bonds.

Cryptocurrencies available

OvalX offers a diverse range of cryptocurrencies for trading, including popular options such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). These cryptocurrencies are known for their market liquidity and widespread acceptance, making them attractive choices for traders.

Services

OvalX also offers a number of other services and products, including crypto wallets, staking, and lending.

Crypto wallets

OvalX offers a number of crypto wallets to store your digital assets securely. The wallets are available for both web and mobile devices, and they support a wide range of cryptocurrencies.

Staking

OvalX also offers staking services for a number of cryptocurrencies. Staking allows you to earn rewards by holding your assets in a wallet that supports staking. The rewards are paid out in the form of new cryptocurrency tokens.

Lending

OvalX also offers lending services for a number of cryptocurrencies. Lending allows you to earn interest on your assets by lending them to other users. The interest rates are paid out in the form of the cryptocurrency that you lent.

Other services

In addition to the above, OvalX also offers a number of other services, such as:

Cryptocurrency education: OvalX offers a number of resources to help you learn about cryptocurrencies and blockchain technology.

Cryptocurrency news and analysis: OvalX provides its users with access to the latest cryptocurrency news and analysis.

Cryptocurrency trading signals: OvalX offers a subscription service that provides its users with cryptocurrency trading signals.

Overall, OvalX is a well-rounded platform that offers a wide range of services and products related to cryptocurrencies.

How to open an account？

The registration process of OvalX consists of six steps:

1. Visit the OvalX website and click on the “Sign Up” button to initiate the registration process.

2. Provide your email address and create a strong and unique password for your account. This information will be used to log in to your OvalX account.

3. Submit your personal details, including your full name, date of birth, and residential address. This information is required for identification and compliance with regulatory requirements.

4. Complete the verification process by uploading a copy of your identification document, such as a passport or driver's license, and any additional documents requested by OvalX for Know Your Customer (KYC) purposes.

5. Once your documents have been submitted, OvalX will review and verify your information. This process may take some time, and you will be notified via email once your account has been successfully verified.

6. After your account has been verified, you can proceed to fund your account by depositing cryptocurrencies or fiat currencies. Once your funds have been credited to your OvalX account, you can start trading on the platform.

How to Buy Cryptos

There are two main ways to buy cryptos on OvalX:

Through the OvalX app:

To buy cryptos through the OvalX app, you will first need to create an account and verify your identity. Once your account is verified, you can deposit fiat currency into your account using a variety of methods, such as bank transfer, credit card, or debit card.

Once you have deposited fiat currency into your account, you can then use it to buy cryptos. To do this, simply open the OvalX app and navigate to the “Buy” tab. Select the cryptocurrency that you want to buy and enter the amount that you want to buy. Then, review the order details and click “Buy” to complete the purchase.

Through the OvalX website:

To buy cryptos through the OvalX website, you will also need to create an account and verify your identity. Once your account is verified, you can deposit fiat currency into your account using a variety of methods, such as bank transfer, credit card, or debit card.

Once you have deposited fiat currency into your account, you can then use it to buy cryptos. To do this, simply go to the OvalX website and log in to your account. Click on the “Buy” tab and select the cryptocurrency that you want to buy. Enter the amount that you want to buy and review the order details. Then, click “Buy” to complete the purchase.

Fees

OvalX's trading fees are based on a maker-taker fee model. Makers are traders who place limit orders, which are orders that are not immediately executed. Takers are traders who place market orders, which are orders that are executed immediately.

The maker fee on OvalX is 0.08%. The taker fee is 0.12%. This means that if you place a limit order, you will pay 0.08% of the trade value in fees. If you place a market order, you will pay 0.12% of the trade value in fees.

Here is a table of OvalX's trading fees:

OvalX also offers a tiered maker rebate program. This means that if you place a certain amount of maker orders in a month, you will receive a rebate on your maker fees. The rebate tiers are as follows:

For example, if you place $100,000 worth of maker orders in a month, you will receive a rebate of 0.04% on your maker fees. This means that you will only pay 0.04% in maker fees, instead of 0.08%.

Deposit & Withdrawal

OvalX offers several deposit and withdrawal methods to cater to the diverse needs of its users. These methods may include bank transfers, credit/debit cards, and cryptocurrency transfers. Users can choose the most convenient method for them based on their preferences and requirements.

The processing time for deposits and withdrawals on OvalX may vary depending on the chosen method and other factors such as network congestion or verification processes. Typically, deposits are processed and credited to the user's account within a relatively short timeframe, while withdrawals may take longer due to additional security checks and verification procedures.